- The world’s largest financial derivatives exchange has decided to expand its portfolio of crypto derivatives again, this time with Micro Bitcoin futures.
After the Chicago Mercantile Exchange (CME) launched new futures contracts for ETH in February, today it announced another new tradable product, Micro Bitcoin futures.
According to official information, the new futures will be only one-tenth the size of one Bitcoin, so the contracts will be available to a wider group of participants. From now on, even ordinary individual traders, who do not have as rich financial resources as most institutions, will be able to trade these contracts without any problems.
Tim McCourt, CME Group’s Global Head of Equity Index and Alternative Investment Products, said that the company was responding directly to demand for smaller contracts.
Since the launch of our Bitcoin futures contract in 2017, we have seen steady, ongoing growth of liquidity and market participation in our crypto derivatives, especially among institutional traders,
The introduction of Micro Bitcoin futures responds directly to demand for smaller-sized contracts from a broad array of clients and will offer even more choice and precision in how participants can trade regulated Bitcoin futures in a transparent and efficient manner at CME Group.
CME also reports that an average of 13,800 CME Bitcoin futures contracts (approx. 69,000 BTCs) have been traded daily in 2021 to date, and an average of 767 contracts (approx. 38,400 ETHs) have been traded daily since the launch of ETH futures on 8 February.
Trading in Micro Bitcoin futures will begin on May 3, 2021.